New York Late Fee Calculator
Work out interest on an overdue B2B invoice under New York law. The legal default rate — what applies when the contract is silent — is 9%, and the statute is quoted verbatim below. All math runs locally in your browser.
Statutory prejudgment rate on contract debts (simple), from the earliest date the claim existed. The 2% consumer-debt rate does not apply to B2B.
Late fee breakdown
- Interest owed
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- Daily rate
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- Total (invoice + interest)
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Still unpaid? Generate a formal demand letter — it computes the interest and cites New York's statute (CPLR 5004; GOL 5-501; Penal Law 190.40) for you.
What New York law actually says
Interest shall be at the rate of nine per centum per annum, except where otherwise provided by statute; provided the annual rate of interest to be paid in an action arising out of a consumer debt where a natural person is a defendant shall be two per centum per annum [...]
Quoted verbatim from the linked official source — not our paraphrase. How we source and re-check every row is documented in the data methodology.
Maximum late fee in New York — written B2B contracts
Hard cap 25% criminal (effective).
Corporations can't raise the 16% civil cap but CAN raise the 25% criminal cap, so ~25%/yr is the effective B2B ceiling (loans $250k+ escape civil; $2.5M+ escape all).
Basis: GOL 5-501, 5-521; Penal Law 190.40. Compare all 51 jurisdictions on the full state table and the cap-regime map.
B2B invoices only — not rent, not consumer debt
Everything on this page is about business-to-business invoices. Residential rent late fees live in New York's landlord-tenant law and consumer credit has separate, stricter rules — two different bodies of law. The distinction is explained in B2B invoice late fees vs. residential rent.
Use this data
New York's row — rate, cap, citation, verbatim quote, verification date — is part of our open 51-jurisdiction dataset: CSV · JSON (CC BY 4.0, cite myinvoicetemplate.com). Set late-fee terms on your next invoice with the free invoice generator, or state them clearly using the wording guidance in the payment terms guide.
New York late fee FAQ
Can I charge late fees on overdue invoices in New York?
Yes — on business-to-business invoices. If your contract or invoice states a late-fee rate, that rate governs (subject to the cap rules below). If nothing was agreed: 9%. Statutory prejudgment rate on contract debts (simple), from the earliest date the claim existed. The 2% consumer-debt rate does not apply to B2B. Statute: CPLR 5004; GOL 5-501; Penal Law 190.40, verified 2026-08-19. Consumer and rent debts follow separate laws.
What is the maximum late fee I can charge in New York?
For a written B2B contract: 16% civil / 25% criminal usury caps — loans of $250,000+ escape the civil cap, $2.5M+ escape both; corporations cannot plead civil usury (effective ceiling ≈25%). Basis: GOL 5-501, 5-521; Penal Law 190.40. The full cap analysis is in the section above; this covers business-to-business deals only — consumer credit has stricter separate caps.
What interest applies if my contract doesn't mention late fees in New York?
The statutory default rate of 9%. Statutory prejudgment rate on contract debts (simple), from the earliest date the claim existed. The 2% consumer-debt rate does not apply to B2B. Statute: CPLR 5004; GOL 5-501; Penal Law 190.40 (verbatim quote on this page, verified 2026-08-19).
Does this cover rent, apartment, or consumer late fees in New York?
No. This page covers business-to-business invoices only. Residential rent late fees are governed by New York's landlord-tenant law, and consumer credit for personal, family, or household purposes has its own stricter caps and disclosure rules. Those are different statutes than the commercial-interest law cited here.
Where does this data come from, and when was it verified?
Every figure on this page comes from our 51-jurisdiction dataset: each row researched against the controlling statute or the state's official current-rate page, independently re-checked, and stamped with its own verification date — New York's row was last verified 2026-08-19. The operative legal text is quoted verbatim on this page with a link to the official source, the methodology is public, every verification pass is logged in the changelog, and the full dataset is downloadable (CC BY 4.0).
Not legal advice. This page summarizes New York's commercial-interest statute for general information, with the verification date shown above — it tells you when we last confirmed the figures, not that they are still current today. Statutes change and courts interpret them; verify the cited statute at the official source, or ask a licensed attorney in your state, before charging or demanding interest.